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Coventry Intermediaries – Godiva Mortgages Buy to Let 5.59% Capped rate to 31.03.13

Coventry Intermediaries – Godiva Mortgages Buy to Let 5.59% Capped rate to 31.03.13

Type: Buy-to-let capped rate tracker mortgage

Capped term: Until March 31, 2013

Capped rate: 5.59%

Tracker term: Until March 31, 2013

Tracker rate: 3.09% above the Bank of England base rate

Payable rate: 3.59%

Minimum loan: £25,000

Maximum loan: Up to 60% of valuation subject to a maximum of £1m

Income multiples: Rental income must be at least 125% of the mortgage repayments

Flexible features: Overpayments, payment holidays of up to three months a year, interest calculated daily

Conditions: Capital repayments of up to 5% a year allowed without penalty in the tracker period, one free valuation up to £700, free legal fees for remortgages

Arrangement fee: £999 arrangement fee plus £250 booking fee

Redemption fee: 4% of the amount repaid in the tracker period

Introducer’s fee: Subject to negotiation

Tel: 0845 7573612


Joe Cohen

Joe Cohen set up First Action Finance in 2005 and now the company has 32 mortgage brokers, seven IFAs, one general insurance adviser and funds under management of £30m. How has Cohen managed to grow an intermediary business through a tough economic and regulatory environment? “Our business operates as a one-stop shop,” he says. “We […]

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